Is Lemon Grove, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lemon Grove has remained a Seller's Market.
Housing Prices in Lemon Grove, CA
How much do homes in Lemon Grove, CA cost?
Median Sold Price
$720,000
$530/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lemon Grove was $720,000 in May 2024, up 8.3% from last year, and the median price per square foot was $530.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $405K | $545K | +34.6% |
2 Bedrooms | $550K | $602.5K | +9.5% |
3 Bedrooms | $671K | $730K | +8.8% |
4 Bedrooms | $735K | $792.5K | +7.8% |
5+ Bedrooms | $835K | $787.4K | -5.7% |
Summary: Lemon Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.6%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 5.7%.
Housing Supply in Lemon Grove, CA
How many homes are available in Lemon Grove, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 63 | +26.0% |
Summary: The Lemon Grove real estate market had 63 homes for sale in May 2024, a 26.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 10 | +42.9% |
3 Bedrooms | 30 | 35 | +16.7% |
4 Bedrooms | 12 | 15 | +25.0% |
5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Lemon Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 16 | +45.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Lemon Grove in May 2024, up by 45.5% month-over-month. Of the 16 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.
Days on Market for Lemon Grove, CA
How long does it take to sell a home in Lemon Grove, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 11 Days | -21.0% |
Summary: Homes in Lemon Grove had an average of 11 days on market in May 2024, down by 21% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in Lemon Grove; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.